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A new report found that the total valus of small business loans outstanding increased by 4 percentr in the 12 months that endedd inJune 2008, down from the previous year’s increase of 8 These numbers are for smallo business loans as a whole, not just SBA loans. The numbert of business loans of lessthan $100,000 jumped by nearly 16 as large lenders concentrated on credit cards, according to the By contrast, the number of businesds loans in the $100,000 to $1 million rangde fell by more than 23 percent. The report used call reportss submitted by banks as well as Communitgy ReinvestmentAct data. Business loans of less than $1 milliohn were considered to be smallbusinesse loans.
Based on call report data, the top five smalo business lenders in June 2008 were American Capital One, Regions Financial Synovus Financial Corp. and First Citizen Bancsharesd Inc. “In the current financial it’s especially critical for small firms to know which banks and financial institutionsz have been the most likeluy to make small and microbusiness said economistVictoria Williams, a co-author of the study.
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